China Reaches Deal With Boeing On 300 Aircraft Worth $38 Bln

By Sue ChangMarketWatch Pulse

China has reached an agreement with Boeing Co. to buy up to 300 aircraft in a deal valued at $38 billion at list prices, the airplane manufacturer said Wednesday. Boeing will sell 190 737s and 50 widebody planes to Chinese airlines and another 60 737s to leasing firms. Boeing will also establish a joint venture with Commercial Aircraft Corporation of China Ltd. to operate a facility in the Asian country for the completion and delivery of Boeing 737 aircraft to Chinese clients. Shares of Boeing were mostly flat in after-hours session.

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